Npower Payment Update Today 17th, December, 2023

Npower Payment Update Today 17th, December, 2023


The postponed in payments can be traced back to the reallocation of funds from the Social Investment office to other ministries, specifically for recurrent expenditures. An astounding N127 billion was redirected from the social investment office, earmarked for N-Power stipends, posing significant hurdles in managing the financial aspects of the N-Power program.


Impacts on N-Power Beneficiaries

The repercussions of this unforeseen reallocation are felt differently by N-Power beneficiaries. While Category 1 (C1) beneficiaries received a comprehensive 15 months of stipends covering their 12-month service year and an additional 3-month exit package, Category 2 (C2) beneficiaries only received stipend payments for the three months spanning October to December 2023. This leaves N-Power Batch C2 beneficiaries owed a substantial 9 months of stipends from January to September 2023, impacting a total of 440,000 eligible recipients.


Ministry’s Efforts Amidst Challenges

Acknowledging the financial challenges faced, the director highlighted the Ministry’s struggle to obtain necessary funds for the N-Power program, directly contributing to the delayed payments. Despite these challenges, the Ministry is actively working to secure additional funds to fulfill the outstanding stipends owed to N-Power Batch C2 beneficiaries.


Minister’s Previous Assurance and Ongoing Efforts

While the Minister had previously assured the recovery of funds and forthcoming payments to beneficiaries, the detailed explanation from the director provides valuable context to the financial complexities the Ministry faces in managing the N-Power program. For a more in-depth understanding, a video containing the director’s explanation is linked below, offering additional insights into this critical update.



Source Golden News

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